OGCI Climate Investments announces a new investment in Econic Technologies

OGCI Climate Investments, the Oil and Gas Climate Initiative’s investment arm, announces a new investment in Econic Technologies, a company that creates new value from CO2 waste for the plastics industry.

LONDON, FEBRUARY 21, 2018: Pratima Rangarajan, CEO of OGCI Climate Investments, today announced a new investment in Econic Technologies

The funding will be used to further develop Econic’s pioneering catalyst systems that enable up to 50% by weight CO2 to be incorporated as a raw material into the manufacture of polyols, the base of all polyurethanes. By unlocking the positive potential of CO2 waste and incorporating it as a feedstock, Econic’s technology reduces the reliance on fossil fuels and potentially enhances industry margins.

Pratima Rangarajan, CEO of OGCI Climate Investments, said: “We believe that CO2 utilisation in products is an important pathway to capture carbon and will contribute to a more sustainable energy future. Econic’s catalyst technologies are a step in the right direction and we look forward to supporting them as they grow.”

OGCI Climate Investments invests in promising technologies and business models that have the potential to significantly reduce greenhouse gas emissions and are commercially viable and scalable. In October 2017, OGCI Climate Investments announced investments in Solidia Technologies, Achates Power and the Clean Gas Project.

Notes to editors

The Oil and Gas Climate Initiative is a voluntary, CEO-led initiative which aims to lead the industry response to climate change.

Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert knowledge and collaborate on action to reduce greenhouse gas emissions.